Key Takeaways Valaris secured a $300 million, multi-year contract from Shell for its drillship VALARIS DS-8 offshore Brazil.VAL added the award to its roughly $2.5B contract backlog, improving long-term cash flow predictability.The 800-day contract starts in Q1 2027, with an option to extend operations by one year.Valaris Limited (VAL) secured a multi-year $300 million contract from Shell plc (SHEL) for its drillship VALARIS DS-8 for the development of oil and gas resources off the coast of Brazil. Notably, ...

HAMILTON, Bermuda, Dec. 10, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (the "Company") announced today the settlement of its previously announced public offering of 21 million common shares at a price of $4.00 per share for total gross proceeds of $84 million (the "Equity Offering"). The Company plans to use the proceeds from the Equity Offering, together with proceeds from a priced debt offering announced on December 9, 2025, seller financing and, if necessary, available cash, for the acquisi ...

HAMILTON, Bermuda, Dec. 9, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) (the "Company") announced today that its wholly owned subsidiary Borr IHC Limited and certain other subsidiaries have priced an offering of additional 10.375% senior secured notes due 2030 (the "Additional Notes") for gross proceeds of approximately $165 million. The Additional Notes will have the same terms and conditions as the existing senior secured notes due 2030. The Company plans to use the proceeds from the Additiona ...

Core Viewpoint - Borr Drilling Limited plans to raise approximately $85 million through an equity offering of 21 million shares to fund the acquisition of five premium jack-up rigs and for general corporate purposes [1][2]. Group 1: Equity Offering Details - The equity offering is expected to generate gross proceeds of around $85 million through the sale of 21 million shares [1]. - Proceeds will be utilized for acquiring rigs, debt service, capital expenditures, working capital, and potential mergers and acquisitions [2]. - The offering will be conducted under an effective shelf registration statement filed with the SEC [4]. Group 2: Financial Partners and Management - DNB Carnegie, Inc. and Clarksons Securities AS are the joint global coordinators and bookrunners for the equity offering [3]. - Major shareholders, including directors Mr. Tor Olav Trøim and Mr. Thiago Mordehachvili, plan to subscribe for $10 million each through associated companies [5]. Group 3: Listing and Trading Information - The company is initiating the process to list its shares on Euronext Growth Oslo, with trading expected to begin on December 19, 2025 [6]. - Following the Oslo Stock Exchange re-listing, the company will be dual-listed on both the OSE and NYSE, with NYSE as the primary listing [7].

HAMILTON, Bermuda, Dec. 8, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) ("Borr Drilling" or the "Company") has entered into an agreement to acquire five premium jack-up rigs from Noble Corporation, consisting of three Friede & Goldman JU-3000N design rigs and two Gusto MSC CJ50 design rigs, for a total purchase price of $360 million. These rigs have complementary specifications and geographic footprint to Borr Drilling's existing fleet, enabling the Company to leverage its best-in-class platform ...

Miller Value Partners, an investment management company, released its “Deep Value Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The market rebound that began in April continued in the third quarter. Growth and momentum stocks continued to perform well, delivering double-digit returns, while the market began to broaden. Small and micro-cap value stocks achieved their best quarterly returns since Q4 2023. In the quarter, the Deep Value strategy appreciated by +26.5 ...

Oil and gas drilling services provider ADES Holding Company has finalised its acquisition of Shelf Drilling via a cash merger. The merger brings together a combined fleet of 83 offshore units, including 46 premium units, and 40 onshore rigs, currently operating across 19 nations, an increase from the previous 13. This transaction strengthens ADES’ market presence in its regions of operation. The enlarged group is said to be backed by a combined backlog exceeding SR34bn ($9.07bn), offering multi-year rev ...

Group 1: Rig Count and Production Data - The total number of active drilling rigs in the US increased by 5 to reach 554, which is down 29 from the same time last year [1] - Active oil rigs rose by 2 to 419, reflecting a year-over-year decline of 60 rigs; gas rigs also increased by 2 to 127, which is 28 more than last year [2] - The active drilling rigs in the Permian Basin rose by 1 to 254, which is 49 rigs lower than the previous year [3] Group 2: Production Trends - Weekly US crude oil production slightly dipped to an average of 13.834 million barrels per day, just 28,000 barrels per day below the all-time high [2] - Primary Vision's Frac Spread Count increased by 2 to 175, ending a three-week decline, but is down from 201 at the beginning of the year [3] Group 3: Market Prices - WTI benchmark crude oil was trading down by $1.11 per barrel at $57.89, and Brent benchmark was down $1.01 per barrel at $62.37, reflecting a decrease of approximately $2 per barrel week over week [4]

Core Viewpoint - Helmerich & Payne, Inc. is a significant entity in the oil and gas drilling sector, focusing on land-based operations and competing with major players like Nabors Industries and Patterson-UTI Energy [1] Financial Performance - Goldman Sachs upgraded HP's stock from Sell to Neutral, with the stock price at $26.10 at the time of the announcement [1][2] - HP's stock price has decreased by 4.04%, or $1.10, bringing it to $26.10, with fluctuations between $25.95 and $27.96 on the same day [3] - Over the past year, HP's stock reached a high of $37.30 and a low of $14.65, indicating volatility in the oil and gas sector [3] Market Activity - HP's market capitalization is approximately $2.6 billion, with a trading volume of 1,753,670 shares, reflecting moderate investor interest [4] - The recent earnings call attracted analysts from major financial institutions, including BofA Securities, Citigroup, Morgan Stanley, and Barclays Bank, highlighting significant interest in HP's financial performance [2][4]

Core Insights - Transocean reported revenue of $1.03 billion for the quarter ended September 2025, reflecting an 8.4% increase year-over-year and surpassing the Zacks Consensus Estimate of $1.01 billion by 2.12% [1] - The company achieved an EPS of $0.06, compared to $0 in the same quarter last year, resulting in a 50% surprise against the consensus estimate of $0.04 [1] Financial Performance Metrics - Total fleet average daily revenue was $462.3 thousand, exceeding the average estimate of $449.7 thousand from three analysts [4] - Average daily revenue for Ultra Deepwater Floaters was reported at $460.2 thousand, above the three-analyst average estimate of $453.77 thousand [4] - Total fleet average rig utilization stood at 76%, surpassing the average estimate of 74.1% from three analysts [4] - Utilization for Ultra-Deepwater Floaters was 71%, compared to the average estimate of 68.7% [4] Contract Drilling Revenues - Contract drilling revenues for Harsh Environment Floaters reached $332 million, significantly higher than the average estimate of $265.49 million from two analysts, marking an 18.6% year-over-year increase [4] - Contract drilling revenues for Ultra-Deepwater Floaters were reported at $696 million, slightly above the average estimate of $683.9 million, with a year-over-year change of 4.2% [4] Stock Performance - Transocean's shares have returned +20.2% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]